Enovix Corporation (ENVX) AI Stock Analysis

Enovix Corporation specializes in the design, development, and manufacturing of advanced lithium-ion batteries. Engineered for high performance and reliability, its batteries serve diverse industries including wearables and IoT devices, smartphones, laptops, tablets, industrial applications, medical equipment, and electric vehicles. Founded in 2007 and based in Fremont, California, the company operates from Silicon Valley to leverage local technological infrastructure and research talent. Enovix utilizes specialized manufacturing facilities adhering to quality standards and collaborates with commercial partners to develop customized energy solutions that optimize performance and efficiency.

Annual revenue grew from $120 in FY2021 to $6.2M in FY2022, dropped to $263,000 in FY2023, and subsequently expanded to $23.1M in FY2024 and $31.8M in FY2025, representing a 4-year revenue CAGR of 2169.3%. Profitability metrics remained negative across this period, with FY2025 gross margin at -86.8%, operating margin at -554.8%, and net income of -$156.7M, while research and development expense stood at $110.3M. For the trailing twelve months ending June 30, 2026, revenue totaled $35.9M with an operating margin of -479.8% and EPS of -$0.80. In the latest quarter ending June 30, 2026, quarterly revenue grew 20.8% year-over-year.

As of June 30, 2026, Enovix held $475.8M in cash and short-term investments against total debt of $537.5M, resulting in net debt of $61.7M. Total assets stood at $799.6M and shareholders' equity was $209.9M, supporting a current ratio of 9.71 and a debt-to-equity ratio of 2.56. During FY2025, the company used cash for operations, recording operating cash flow of -$95.3M and free cash flow of -$113.5M. Cash deployment included capital expenditures of $18.2M and share buybacks of $58.4M, while the share count rose 54.8% over five years.

Enovix trades at a price-to-sales multiple of 15.2x and an EV to revenue multiple of 19.7x, both above the median of its US-listed Industrials peers, which trade at a median price-to-sales multiple of 1.5x. The company carries a price-to-book ratio of 3.1x, with a market capitalization of $546.4M and an enterprise value of $708.0M. Over the past year, the stock fell 78.4%, while the S&P 500 returned 16.8%. Over a 5-year period, the stock declined 88.1% compared to an 83.0% return for the benchmark index.

Wall Street analysts hold 8 Strong Buy, 0 Buy, 3 Hold, 1 Sell, and 0 Strong Sell ratings on the stock. The mean price target is $9.75, which stands 291.6% above the last closing price of $2.49. For the fiscal year ending December 31, 2026, the consensus EPS estimate is -$0.55 on revenue of $39.1M. Looking ahead to the next fiscal year, 10 analysts project revenue of $75.7M, indicating expected revenue growth of 93.7%. Enovix beat EPS estimates in each of the last 4 quarters, and its next earnings date is November 4, 2026.

This page is an AI-written research summary of Enovix Corporation (ENVX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: ENVX income statement, ENVX balance sheet, ENVX key metrics, ENVX analyst forecast, ENVX chart. See the ENVX stock overview for the latest quote and news.